Trade of the Day: EUR/AUD

Date: 10th June 2014

EUR-AUD currency tradingThe long haul standpoint for the EUR/AUD cash pair speaks to varying fortunes between Europe and Australia. Australia’s economy and cooperation in Asia-Pacific markets has animated investment development through climbing fares. Conversely, the Eurozone has attempted to recoup from the sovereign obligation emergency obliging extraordinary jolt from the European Central Bank.

Financial specialists Notes:

Australian GDP for the first quarter hit a crest of 3.5%, its most abnormal amount in two years.

Rate treks appear far off, as per the Reserve Bank of Australia, even with expansion at 2.9%.

Fares have climbed 17% in the first quarter determined by consummation of new mining financing ventures.

Changes in the Australian property market are relied upon to bring about a jolt in purchaser using.

The EUR/AUD has profited from a fall in investment rates achieved by the ECB, getting through paramount safety levels in the wake of arriving at a top at 1.58298.

Value keeps on being pressed structuring a plummeting wedge, showing a potential bearish breakout.

The BancdeBinary  analysts suggest a long term PUT  position  in the  EUR/AUD.

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Financial Analyst at Clicking Media Group
John was born in Wollongong (NSW ) and studied at The London School of Economics ( England, UK ). Currently he lives in Sydney ( NSW ) and he works as financial market analyst.
John Walker
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